Q4 offers the chance to tap old and stagnant opportunities and give them a significant push. Because of the pressures of Fiscal Year End and budgeting, prospects of all types are more receptive and more likely to convert. Use this information to your benefit and close more.
1. Don't Filter. Q4 is not the time to trim back your pipeline, a least not without a real attempt to reactivate all past opportunities. This means looking past close probability or the tone of your last meeting and digging into each opportunity. As most businesses face a Fiscal Year End at the end of the year, many seemingly distant opportunities may be more active than you expect.
2. Divide into Tiers and Conquer. While renewing all of your opportunities is critical, it is just as important to divide out how you approach opportunities in Q4.
Rather than treating every opportunity as the same, look instead to break them up into different groups, based on some qualification of your past interaction. You can, for example, divide these groups by urgency and need. Try four letter grades – A, B, C, and D – to sort your opportunities: As require you to drive urgency, Bs have a need but still seek to build the value proposition, Cs haven’t quite seen the business need, and Ds are complete re-engagement candidates.
3. Prepare Separate Tier-level Messaging. While it may be tempting to use your best emails, voicemail scripts, and outreach for every single latent opportunity, you need to follow your tiers instead. Each group has different concerns and activation strategies in Q4, making it necessary to break your messaging apart into the same four tiers. For prospects that need a spike of urgency to convert, you will need a different approach than for prospects who you feel need more education and convincing. Try and alter our example scripts to fit the needs of each specific tier and you will see a higher return on your efforts.
4. Update Constantly. Keep prospects in the loop with as much relevant, valuable outreach as you can. If you are planning events that match their interests, have a newsletter, or are producing content, share it with your prospects. Keeping people aware of your name sets up a number of touchpoints that lead to a conversion. Think of it like a marketing exercise - the more your name is in a contact's ear, the more likely that they will be receptive to your message, within reason!